Brian Krebs reports: A new report from the U.S. Treasury Department found that a majority of bank account takeovers by cyberthieves over the past decade might have been thwarted had affected institutions known to look for and block transactions coming through Tor, a global communications network that helps users maintain anonymity by obfuscating their true location online. Read…
Category: Financial Sector
German Constitutional Court Rejects the Extradition of “World’s #2 Hacker” to US
Germany’s top court won’t agree to extradite an alleged hacker to the U.S. until it is assured the hacker won’t face a “disproportionate” sentence, if convicted. The Associated Press reports that the Federal Constitutional Court overturned a lower court’s approval of Ercan Findikoglu’s extradition: It said Frankfurt’s regional court needs to obtain assurances from U.S. authorities that…
Three Members Of New York Cell Of International Cybercrime Organization Sentenced For Roles In $45 Million Cyberattack
On November 25 in federal court in Brooklyn, New York, Elvis Rafael Rodriguez, age 25 of Yonkers, was sentenced to 34 months’ imprisonment for his participation in an international cybercrime organization responsible for two cyberattacks that inflicted $45 million in losses on the global financial system in a matter of hours. Two of Rodriguez’s co-defendants were…
NY: Former Branch Manager Of Bank Pleads Guilty In Manhattan Federal Court To Cashing Over $400,000 In Fraudulently Obtained Tax Refund Checks
Edwin Mejia pled guilty yesterday to participating in a scheme to cash more than $400,000 in fraudulently obtained federal tax refund checks issued in other people’s names. He was arrested in March 2014 and pled guilty yesterday before U.S. District Judge Paul A. Engelmayer. According to the allegations in the Complaint and Information filed in Manhattan federal court, and statements…
IE: Investigation after New Beginning’s mortgage data was sent to overseas investment fund
Rebecca Horan reports: The Data Protection Commissioner is investigating a data security breach made by Irish mortgage campaigners New Beginning. According to The Mail on Sunday, 1,500 homeowners had their financial details sold to a €2bn overseas investment fund that aims to buy up 1,500 distressed homes here. The Malta based fund Arizun reportedly used the…
Data Security Auditor May be Drawn Into Data Breach Class Action for Failing to Identify Vulnerabilities
DrinkerBiddle reports a development in Storm v. Paytime, Inc., No. 14-cv-01138-JEJ (M.D. Pa.): In August, Paytime, Inc., a payroll services company, moved to dismiss a putative class action filed in the wake of a data breach in which the personal and financial information of more than 230,000 people was compromised. Paytime argued that the plaintiffs lack standing, have failed to plead…